Gan & Lee, Menarini Ink EUR726M Deal for GLP-1 Obesity Drug
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Beijing – September 08, 2026 -- Gan & Lee Pharmaceuticals (603087.SH) has signed an exclusive license agreement with Italy's Menarini Group worth up to EUR 726 million, excluding royalties, to register and commercialize its GLP-1 receptor agonist bofanglutide for obesity and overweight treatment across 39 countries.
Deal structure delivers EUR 62 million upfront with EUR 664 million in milestones
Gan & Lee will receive an upfront payment of EUR 62 million, milestone payments totaling up to EUR 664 million, and double-digit royalties on net sales in the licensed territory. Menarini takes responsibility for regulatory submissions and commercialization across the 27 EU Member States plus the United Kingdom, Switzerland, Norway, Iceland, Liechtenstein and Balkan countries.